Shares make last-minute gains

Stocks managed to post small gains in the final minutes of trading despite sinking in the red on both exchanges on August 7.

Friday, August 08, 2014 11:27

Stocks managed to post small gains in the final minutes of trading despite sinking in the red on both exchanges on August 7.

On the Hochiminh Stock Exchange, the benchmark VN-Index inched up just 0.15 percent to close the session at 607.62 points.

Bluechips were mixed. Many of the biggest shares in term of market valuelike Masan Group (MSN), FPT Corporation (FPT), VinGroup (VIC), Hoang AnhGia Lai Company (HAG) and Hoa Phat Group (HPG) lost value. Others likeVinamilk (VNM), Bao Viet Holdings (BVH), Ocean Group (OGC) and SaigonSecurities Inc (SSI) advanced.

The VN30 which tracks the top 30 shares by market value and liquidity was up 0.03 percent, ending at 644.19 points.

Overalltrading decreased with the market value declining around 25 percentfrom August 6 to nearly 1.459 trillion VND (69.1 million USD) on a totalvolume of more than 91 million shares and fund certificates.

Realestate developer FLC Group (FLC) continued to be the most active codehere on a whopping volume of 17 million shares. The share prices climbedmore than 3 percent to close at 13,600 VND per share.

The groupreached a credit agreement with The Global Emerging Markets Group (GEM),following which GEM will invest 200 billion VND (9.5 million USD) inFLC in the next 12 months, as well as will buy 3 million FLC shares fromthe group's big shareholders at the price of 20,000 VND per share.

Inaddition, GEM also committed to subscribe 3 million shares from theshareholders of the corporation in accordance with an agreed price at20,000 VND per share.

On the Hanoi Stock Exchange, the HNX-Indexalso closed up 0.48 percent at 80.78 points as advancers outnumbereddecliners by 110-78 while the remaining 167 ended flat.

Bothmarket volume and value decreased slightly compared with the previoussession, totaling nearly 49 million shares worth 532 billion VND (25.2million USD).

Sai Gon Thuong Tin Real Estate Company (SCR), ledtrades on the northern bourse with a volume of 9.2 million shares,rising 5.8 percent to settle at 9,200 VND per share.

Foreigninvestors continued to sell local shares. They again concluded thesession as net sellers on the two markets, unloading combined sharesworth 130 billion VND (6.2 million USD).-VNA

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